According to April 15, Reuters report in Baghdad, Iraq Cabinet said in a statement that approved oilfield service contract worth 590 Million Dollar with DAEWOO E&C. According to this contract, DAEWOO E&C will participation in development operation of giant oilfield- Az Zubayr oilfield in Southern Iraq.
Under this contract, DAEWOO E&C will complete engineering design, purchase and contraction for an air separation facility of Az Zubayr oilfield. By the year 2017, oilfield expects produces reach 850 thousand barrels of oil per day.
In 2010, Italia Ente Nazionale ldrocarburi(ENI), USA Occidental Petroleum Corporation and KOREA GAS signed a 20 years contract of Az Zubayr oilfield development with Iraq.
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